Agrobank Gets RM6.23 Mln Allocation To Assist Sarawak Agri-food Entrepreneurs

KUCHING, Aug 13 (Bernama) -- The Ministry of Agriculture and Food Security (MAFS) has entrusted Bank Pertanian Malaysia Bhd (Agrobank) with managing RM6.23 million in funds through various programmes to assist agri-food entrepreneurs in Sarawak.

In a statement today, Agrobank said the funds will be channelled via key initiatives including the Malaysian Family Agrofood Financing Fund, the Agrofood Financing Fund and the Agri-Food Value Chain Modernisation Programme.

“The responsibility undertaken by Agrobank underscores the government’s confidence in the bank’s expertise and capability to effectively manage and distribute funds to support Sarawak’s agricultural sector,” the statement said.

Additionally, as of July 2024, Agrobank has approved RM95.4 million in financing under the Sarawak Micro Credit Scheme, benefiting 2,758 participants.

Agrobank president and chief executive officer Datuk Tengku Ahmad Badli Shah Raja Hussin said as part of the bank's ongoing commitment to enhance banking services in rural areas, it has identified a location in Spaoh, Betong, 274 kilometres from Kuching, to reopen a branch.

He also said the bank plans to establish a new touchpoint in Gedong, Serian after opening a new branch in Tanjung Manis, Mukah in May 2023.

"This scheme, along with our branch expansion plans, demonstrates our holistic approach to supporting Sarawak's economic development,” he said.

Recognising the importance of digital banking, Agrobank is developing mobile banking services and digital solutions to complement its physical branches. It recently launched a cashless community initiative at Pasar Tamu Lawas to promote digital financial literacy in rural areas.

He pointed out that Agrobank is also one of the first banks to provide ATM services in nine districts in Sarawak comprising Padawan, Bau, Lundu, Sematan, Lingga, Pantu, Tebedu, Asajaya and Sebuyau.

“Agrobank aims to contribute to Sarawak’s overall economic development and financial inclusion goals, fostering growth and prosperity across diverse communities in the state," added Tengku Ahmad Badli Shah.

-- BERNAMA